A few days ago I found another expert advisor system for review. This trading system, called fxbrokerbuster, caught my attention because of its apparently different trading tactics compared to most other expert advisors. For example, fxbrokerbuster claims to have risk to reward ratio of 1:2.5. Today's post will be dedicated to the review of this automated trading system. As always, my intention will be to evaluate the author's claims against the evidence provided, after this I'll give my opinion about the EA and tell you if I consider it worth buying or testing.
The fxbrokerbuster website is not different than most expert advisor websites out there. The website begins with an absurd profit claim which states that the expert advisor turned 3000 USD into one million dollars in 2009. Everytime I read this I have to take a deep breath. It is certainly time for this expert advisor sellers to distinguish reality from fiction, the fxbrokerbuster NEVER made this profit in the market. This phrase is just taken from backtesting results something which is totally misleading. It is different to say that the expert turned 3000 USD into one million in a simulation than to say that it turned them in real life. The way the author portrays it is extremely misleading. Please, if you are the author and your reading this, we are not retarded, don't insult our intelligence with these lies.
After reading the outrageous profit claims given throughout the website, I started to look at the evidence provided by the author. What ? Just a backtesting statement with no dates and no live testing to see if backtesting is consistent. Come on ! Giving a backtesting result with no forward or live statement to compare it with is simply worthless, the system could have been programmed to curve fit the pair and give those results. The EA has been up for sale for a while so why is there no forward/live testing if the EA is so profitable ? Well, I think that these questions answer themselves.
As you can see, this expert advisor is totally NOT worth buying or testing since there is NOT enough evidence to even backup one of the author's claims. If you would like to learn more about automated trading systems and how you can learn to program, evaluate and design your own long term profitable systems please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
The fxbrokerbuster website is not different than most expert advisor websites out there. The website begins with an absurd profit claim which states that the expert advisor turned 3000 USD into one million dollars in 2009. Everytime I read this I have to take a deep breath. It is certainly time for this expert advisor sellers to distinguish reality from fiction, the fxbrokerbuster NEVER made this profit in the market. This phrase is just taken from backtesting results something which is totally misleading. It is different to say that the expert turned 3000 USD into one million in a simulation than to say that it turned them in real life. The way the author portrays it is extremely misleading. Please, if you are the author and your reading this, we are not retarded, don't insult our intelligence with these lies.
After reading the outrageous profit claims given throughout the website, I started to look at the evidence provided by the author. What ? Just a backtesting statement with no dates and no live testing to see if backtesting is consistent. Come on ! Giving a backtesting result with no forward or live statement to compare it with is simply worthless, the system could have been programmed to curve fit the pair and give those results. The EA has been up for sale for a while so why is there no forward/live testing if the EA is so profitable ? Well, I think that these questions answer themselves.
As you can see, this expert advisor is totally NOT worth buying or testing since there is NOT enough evidence to even backup one of the author's claims. If you would like to learn more about automated trading systems and how you can learn to program, evaluate and design your own long term profitable systems please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
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